FA96/S93

This guidance describes the capital gains aspects of the regime for Loan Relationships for companies from 1 April 1996 until the first accounting period to start on or after 1 October 2002. For periods beginning on or after 1 October 2002 see CG54100+

FA96/S93 excludes from the new regime the profit or loss on redemption or other disposal of a loan relationship where the amount which has to be paid to discharge the debt (whether on redemption or otherwise) is calculated by applying a relevant percentage change in the value of chargeable assets to the amount of the original loan. Such a loan relationship is referred to as an ‘asset-linked security’.

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